Cynosure reports strong Q4 earnings

WESTFORD -- Shares of Cynosure Inc. rose modestly Tuesday morning after the company announced fiscal fourth-quarter earnings that beat expectations.

The company sells aesthetic treatment systems that are used by physicians to perform noninvasive and minimally invasive skin procedures such as removing hair, treating vascular and pigmented lesions, and erasing tattoos.

For the three-month period ending Dec. 31, Cynosure reported net income of $4 million, or 27 cents per diluted share. A year earlier, profits were $1.1 million, or 8 cents per diluted share.

Quarterly revenues were $42.7 million, up 25 percent from the year-ago figure of $34.1 million.

The results beat analysts' forecasts, which called for net income of 23 cents per share on revenues of $41 million.

In a statement, CEO Michael Davin said the quarter was boosted by the launch of a new product, Cellulaze, which ruses laser technology to remove cellulite from skin.

"We continue to strengthen our operating performance with a favorable mix of products and expense management, resulting in a decrease in operating expenses as a percentage of revenue," Davin said.

For all of 2012, Cynosure reported net income of $11 million, or 79 cents per diluted share, on revenues of $153.5 million. The latter figure is 35 percent higher than the previous year.

Shares were trading at $28.85, up $1.83, on the Nasdaq as of about 10:15 a.m.

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